Microfinance > MFI

Manuela Ramos is an institution which campaigns and fights for the respect of women rights since 1978. CrediMujer was founded in 2001 and is the microfinance branch of Manuela Ramos. Its aim is to contribute to the exercise of entrepreneur women economic rights. CrediMujer is an independent  and sustainable entity.

CrediMujer promote and create “communal banks”, which consists in groups of women who meet together to receive CrediMujer services. These women, who do not have to live far away from each other, find themselves “associated”, and are consequently united for the reimbursement of their microloans. These communal banks count an average of 20 members (between 11 and 35). Although rare, individual loans are also available for the most active members. The customers live in rural or periurban areas. The duration of a cycle is usually 4 months, sometimes 6, and exceptionally 8 months. Each communal bank elects its comity: a President, a Secretary and a Treasurer.

These microloans can be both for already existing microbusinesses or new microbusinesses projects.

The promotion and the creation of the communal banks is assumed by a loan officer from CrediMujer. Microloan application are analyzed by a risk committee. The money of the microloan is distributed to associates by checks or mandate.

A meeting is organized once a month in each communal bank. Presence is obligatory for each member. A kind of training, or a discussion is managed by the loan officer for 20 minutes before this meeting. Subjects are mostly about managing a microbusiness. The meeting is dedicated to the monthly payments, which means the collect of checks and receipts of the banks where the payment has been done. No cash transit during this meeting. If a member does not pay, comity members go to the default member place and agree on a compromise. Social pressure is so high that it is exceptional when CrediMujer has to interfere.

In order to obtain a new microloan after a cycle, an associate has to prove she has saved at least 20% of the amount asked for the new loan. To save in banks is thus encouraged.

No impact of the economical crisis has been noticed so far.

As a complimentary and optional product, CrediMujer offers for 1 sole (0,25EUR) per month to cover consequents of illness events up to 2700 soles (750 EUR), and the double for an accident. 15.000 customers are insured.

80 people work for CrediMujer. Only 2 are men.

Any form of microentreprise is represented.